Investors Grab Oil Services,
Pumping Up Prices, Caution

Investors drilling for dollars in oil-services stocks have struck gold in recent weeks. So why are some becoming more cautious?

Many stocks in the group have set 52-week highs this month. The good news is everywhere: Last week alone, Rowan Energy estimated its net income will soar 45% in 1998, while Baker Hughes , a drilling-equipment company, said it expects revenue to double over the next five years.